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Despite spiking house prices, ownership became slightly more affordable in the third quarter, says RBC | Financial Post

Despite spiking house prices, ownership became slightly more affordable in the third quarter, says RBC | Financial Post

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TORONTO — Home ownership became more affordable in Canada in the third quarter despite a broad spike in home prices, according to the latest survey by RBC Economics.

The bank says that was because of rising household incomes, low and steady interest rates and cheaper utility costs in many parts of the country.

RBC says resales rose for the eighth time in the past nine months in October, primarily due to robust activity in hot markets in Calgary, Toronto and Vancouver.

Despite spiking house prices, ownership became slightly more affordable in the third quarter, says RBC | Financial Post.

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